Putin urges to use digital ruble more widely

Russian President Vladimir Putin said he believes it is necessary to use the digital ruble more widely in the country's economy.

"Now we need to take the next step, namely to move to a broader, full-scale implementation of the digital ruble in the economy, in economic activity and in the field of finance," Putin said.

According to him, it is important for Russia to "seize the moment" and to develop conditions for digital assets.

"It is important for Russia to ‘seize the moment’, as they say, to create the legal framework and regulation in a timely manner, to develop infrastructure, to create conditions for the circulation of digital assets, both within the country and in relations with foreign partners," Putin said.

The law on the introduction of the digital ruble and the creation of a corresponding electronic platform was signed on July 24, 2023. The Bank of Russia is the operator of the platform.